E2594 VADAKAILASAM PRIMARY AGRICULTURAL COOP CREDIT SOCIETY LIMITED,PANRUTI vs. INCOME TAX OFFICER, WARD 4, CUDDALORE, CUDDALORE

ITA 1276/CHNY/2024Status: DisposedITAT Chennai26 July 2024AY 2019-20Bench: HON’BLE SHRI MANU KUMAR GIRI (Judicial Member), SHRI S.R. RAGHUNATHA (Accountant Member)8 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the disallowance under Section 143(1) for Chapter VI-A deductions, specifically for belated returns, was only permissible from Assessment Year 2021-22 onwards. Since the present appeal pertains to AY 2019-20, the disallowance was not valid.

What were the facts?

The assessee, a cooperative credit society, claimed deduction under Section 80P. The CPC disallowed this claim in an intimation under Section 143(1) due to a belatedly filed return. The CIT(A) upheld this action.

What were the issues?

Whether the disallowance of Section 80P deduction under Section 143(1) for a belated return was permissible for AY 2019-20, given the effective date of the relevant amendment.

Which sections of the Income-tax Act were involved?

Section 143(1),Section 80P,Section 80AC,Section 139

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, ‘A’ BENCH, CHENNAI

Before: HON’BLE SHRI MANU KUMAR GIRI, JM & SHRI S.R. RAGHUNATHA

Hearing: 16.07.2024Pronounced: 26.07.2024

PER MANU KUMAR GIRI (Judicial Member)

This appeal filed by the assessee is directed against the order of the Ld.

Commissioner of Income Tax(Appeals)(NFAC) Delhi [CIT(A)] dated 20.03.2024 for Assessment Year 2019-20. 2. The Assessee has raised the following grounds of appeal :- 1 The Learned Commissioner (Appeals), National 0 Faceless Appeal Centre, Delhi erred in confirmi

The order continues below.

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